A much higher start is forecast this am, roughly 10 in wheat, 6-10 corn and 10-15 beans. The $ is moderately lower, providing support for all the grains. A big winter snow storm over the long holiday weekend dumped up to 2' of snow in the western Midwest, up to 1' in the northern half of the eastern Midwest, once again halting late corn harvesting. It is estimated roughly 500 million bushels of corn remains unharvested. Larger than normal harvest losses are expected as some of the unharvested corn will not be harvested until the spring, if at all.

China's Agriculture Ministry said China had a record grain harvest in 2009 of 530 million tonnes, surpassing the 2008 record of 528.5 million.

The Commitment of Traders report wasn't released Friday due to the Christmas holiday. It will be out this afternoon instead.

Brazil had up to 1.5" widespread rain over the last 3 days. More is forecast tomorrow through Friday. This rain will be welcome in the north but not in the south, where it remains too wet. Argentina welcomed up to 1 1/2" of scattered weekend rain. More scattered rain is forecast in northern and eastern areas today, followed by dry weather Tue-Wed before scattered rain returns Thur-Fri, keeping conditions favorable.

Following the big snow storm over the weekend, this week will be mostly dry in the western Midwest with light, scattered rain or snow in the eastern Midwest. Up to 1' of snow fell in parts of the southwest US winter wheat belt over the holiday weekend, providing protective snowcover from cold temps for the wheat crop. Light, scattered precipitation is forecast this week in the area.